$SPX Exit Stage LeftWe have several things going on with the SP:SPX Right now. Some say its a bullflag, Some say it's a head and shoulders.
The simplest explanation often being the best, SP:SPX is testing a downtrend line that was formed as a result of price action continuously rejecting at a Supply Level.
Price is consolidating, however with the aggressive short attack on the SP:SPX at the close Friday, valuations being in the clouds and meme coin holders being rugged by world leaders, I would say there is a more than fair chance all this stupidity marks a top.
With a very dubious and undecided CCI, weather we break above first or break lower first does not matter. We are going down.
First target is a closing of that huge Wide open space at 5850. Then Liquidity at 5700 and a third target at 5400.
We will see after that.
Don't forget to Short the NSE:BANKNIFTY too...